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• ORDINANCE NO. 85 -24 <br />AN ORDINANCE OF THE CITY COUNCIL OF THE CITY <br />OF NEWPORT BEACH APPROVING A DEVELOPMENT <br />AGREEMENT BETWEEN THE CITY OF NEWPORT BEACH <br />AND J.M. PETERS COMPANY REGARDING THE BAYVIEW <br />PARCEL <br />The City Council of the City of Newport Beach does <br />ordain as follows: <br />SECTION 1: The City Council pursuant to the provisions <br />of Chapter 15.45 of the Newport Beach Municipal Code, has <br />reviewed and considered a proposed Preannexation /Development <br />Agreement relative to parcel located at the southwesterly corner <br />The City Council finds that the terms and conditions of <br />the Development Agreement are consistent with plans and policies <br />of the City of Newport Beach that it is in the best interest of <br />the City of Newport Beach to approve the Agreement. <br />SECTION 2: City Council hereby approves the <br />Preannexation /Development Agreement, attached as Exhibit "A" and <br />directs the City Clerk to record the document within ten days <br />after the Agreement has been signed by all parties. <br />of Bristol Street South and <br />Jamboree <br />and commonly known as the <br />• <br />Bayview Parcel. A copy <br />of the <br />Preannexation /Development <br />Agreement is attached hereto <br />as Exhibit <br />"A." <br />The City Council finds that the terms and conditions of <br />the Development Agreement are consistent with plans and policies <br />of the City of Newport Beach that it is in the best interest of <br />the City of Newport Beach to approve the Agreement. <br />SECTION 2: City Council hereby approves the <br />Preannexation /Development Agreement, attached as Exhibit "A" and <br />directs the City Clerk to record the document within ten days <br />after the Agreement has been signed by all parties. <br />-1- <br />SECTION 3: This ordinance shall become <br />effective within <br />• <br />thirty <br />(30) days from date <br />be <br />of adoption and should <br />published at <br />least <br />once in the official newspaper of the City <br />of Newport Beach <br />within <br />fifteen (15) days after its adoption, this <br />ordinance shall <br />not be <br />codified. <br />-1- <br />